Take a host of initiatives to ramp up presence in rural markets. With increased focus on directing funds towards agriculture, banks are confident of meeting their farm sector lending targets this financial year. “We had 60 rural branches last year and will take it to 125 by next month. This will give a major fillip to the agri lending business,” said S Chakrabarthy, deputy managing director, Axis Bank. According to the Trend and...
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Ready for guillotining? by Richard Mahapatra
How transparent and participatory is Pranab Babu’s budget For six months it evolves under a veil of secrecy. The Cabinet gets to see it just a few hours before it is tabled in the Lok Sabha. Such is the covert nature of the Union budget that accounts for about 50 per cent of all budgets in the country. Finance Minister Pranab Mukherjee wants to make the budget what such a public affair...
More »Govt hopes to introduce food bill in Budget session: PM
Prime Minister Manmohan Singh today said the government is trying to introduce the proposed National Food Security Bill that seeks to provide a legal guarantee for cheaper foodgrains to the poor, in the Budget session of Parliament. "...we hope to bring to this session of Parliament the National Food Security Bill, which would give the people the right to food as the constitutional right," Singh told Rajya Sabha while replying...
More »Despite growth, hunger pangs reality for millions by Subodh Varma
Although finance minister Pranab Mukherjee had promised food security and inclusive growth in his budget speech last year, hunger continues to stalk over 300 million citizens of the country. India slipped to 67th place in the Global Hunger Index 2010 rankings of 122 countries prepared by International Food Policy Research Institute. An Oxford University report said that 410 million Indians live in poverty. While there may be nit-picking over the...
More »Not out of the woods yet by Ashish Kothari
The promise of the FRA remains largely unfulfilled, says a committee set up by the Ministries of Environment and Forests and Tribal Affairs. IT seems hard for a government used to controlling most of India's common lands to let go of them. Even though it has passed a law mandating more decentralised governance of forests, the government itself is proving to be the biggest obstacle in its implementation. Other than in...
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